KLP Kapitalforvaltning AS Makes New Investment in IAC Inc. (NASDAQ:IAC)

KLP Kapitalforvaltning AS acquired a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,700 shares of the company's stock, valued at approximately $634,000.

A number of other institutional investors also recently bought and sold shares of IAC. Commonwealth Equity Services LLC grew its position in IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock valued at $497,000 after buying an additional 320 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of IAC by 1.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company's stock valued at $1,654,000 after acquiring an additional 531 shares in the last quarter. KBC Group NV increased its stake in shares of IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after acquiring an additional 608 shares during the period. Sanctuary Advisors LLC increased its stake in shares of IAC by 0.7% during the fourth quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company's stock worth $4,188,000 after acquiring an additional 659 shares during the period. Finally, Franklin Resources Inc. raised its holdings in IAC by 6.7% during the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock worth $577,000 after purchasing an additional 686 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IAC has been the topic of a number of analyst reports. Truist Financial lowered their price objective on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Barclays cut their price objective on IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. KeyCorp boosted their target price on shares of IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. JMP Securities lowered their price target on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $60.00 price objective on shares of IAC in a research note on Friday, March 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.31.

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IAC Price Performance

Shares of IAC stock traded down $0.94 during trading on Monday, hitting $34.53. 1,944,566 shares of the company were exchanged, compared to its average volume of 806,572. IAC Inc. has a fifty-two week low of $33.21 and a fifty-two week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $44.46 and a 200 day moving average price of $46.63. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -5.30 and a beta of 1.24.

IAC Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.